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What makes you think that? We raised 2.5m not too long ago
Good for you two cents. will do the same shortly. can't wait till drilling results start filtering through. hopefully mega findings ahead.
Well well!! Just what we needed, confirmation that the strategy following acquisition is working, early days yet, but they have hit the A reef, and, it is implied, some other potentially mineral bearing zones. Anyway, these are now going off for testing. My understanding is that labs in South Africa don't have much of a waiting list, but my guess is that we could have some results late next month...... One would have thought it vaguely possible that some buying may even occur in advance of the announcement......, but in this market who knows. However, for anyone with half a brain, this should get the buying juices flowing, its certainly got my juices flowing, not that they have stopped flowing for the last three years or so. Tough ride this has been, but the Bothaville NE pot of gold under the rainbow just got a little closer, and there are lots more pots to shoot for to keep the market excited!!
Https://www.londonstockexchange.com/news-article/LEX/drilling-update/16347680
Ed Nealon, Lexington Gold's Chairman, commented:
"These latest developments from our Bothaville Project drilling campaign are highly encouraging. The completion of two diamond drill holes intersecting the A-Reef and showcasing signs of mineralisation, brings us closer to realising the potential of this project.
"These preliminary findings also serve to validate our strategic approach to exploring the Kimberley Formation and highlight the untapped opportunities within our South African portfolio. We remain committed to advancing our exploration efforts and look forward to providing further updates as our ongoing programme progresses."
CPR - Continuous Price (SP) Recovery (upwards) I hope. This SP has been in the doldrums for too long.
Fingers X'd on that one, hoping we see progress report on SA drilling sooner than that. Be interesting to know if they struck the reefs they were hoping to hit!! A bit of movement today, bit of volume too, maybe the defibrillator man is on his or her way!!!
Why this stock trades where it is now is beyond me. Potential for 37mn oz or more worth 80bn dollars and we are talking about a market cap of 14 million pounds.. Anyone with half a brain would be able to put 2 and 2 together and say that LEX is one hell of an attractive punt!? We should see pre news, on the SA drilling program soon, and who knows, maybe an update on the Harmony JV..
“…With a headline figure of 37 million ounces of gold the acquisition certainly has transformative potential…”
https://total-market-solutions.com/2024/02/lexington-gold-ltd-7/
Today?...looks like the bottom..imo....lets see
Don't look a gift horse in the mouth..
Sorry that should read " bored "
I've had a few 🍷🍷🍷
Lack of volume of posts on a BB, also indicates lacklustre performance, although at least Lex BB doesn't have incessant bickering like other BB.
SORRY TWOT**TS like you and others just a bit frustrated
GOOD LUCK anyway 👍
Pertinent 🤣🤣🤣.
Most of my siblings went to grammar school too, so big posh words don't phase me.
No Liverpool chants in my last message.
Here's my two pence worth for what its worth, why more sells than buys??.
Some probably have taken some profits or broke even. Some may have got board as its definitely a slow burner for now, and moved on to other investments.
Others may just need the money, not everyone was born with a silver 🥄 in there gob.
Definitely needs the volume to increase before any progress in SP.
Me, I'm here for the duration.
GOOD LUCK ALL
ALWAYS BELIEVE
YNWA
🍷🍷
Twot**ts, the mining process takes decade's, did you not know that. May I suggest you trade in other stocks if you want a quick return.
Agreed but I think everyone is waiting for news on drilling.
The RNS issued in December 2023 said that drilling will take 2-3 months so the earliest I would be expecting news will be around mid-late February 2024 but it may not be until March 2024.
GLA
Https://total-market-solutions.com/2023/12/20-mining-companies-for-2024-part-ii-g-z/
Blue
3p that would be a fantastic gift to buy more. I've been nibbling away all the through this period and will continue to. Risk vs reward play here is so favourable at this price even at double this price IMO.
The only sells I have seen go through were flippers and likely small bored paper handed retail traders and I thank them for their donation.
Good read (from SHG bb)
https://www.mining.com/costco-sold-100-million-worth-of-gold-last-quarter/
https://aheadoftheherd.com/gold-is-the-solution-to-currency-debasement-richard-mills/
Yep, decimal place in the wrong place!
They must have expired as we would have had a warrant conversion RNS if exercised.
Jimzi, it's actually 4.2mn warrants with profit of around 1p per warrant, that's 42k not 420k. But the point remains, there maybe a short lurking out there, and that could be dynamite. I have not checked, but I'm told there's something on the LEX website that says the warrants expired unexercised...
Excellent summary rose , its very compelling at this price. It may, I stress may, not be a dead letter though.
In addition to being a cracking entry price, there maybe a short term market catalyst - the 4.5m sells that dropped us to here. If they were pure sells, there's no catalyst but if they were forward sold and delivery was to be by warrant exercised shares issued, then its fun. We know the warrants expired so either way Peterhouse fooked up and lost an opportunity profit of 400k - no Christmas party this year. Comes down to coincidence - 4.5m sells day before expiry of 4.5m warrants.
Here's the rub, if warrant related they will 100% have been sold T20 - to cover the time of sale to the issuance of shares - last day is Dec 22..
Could be a coincidence but this in itself makes the price doubly attractive and someone in Peterhouse is worried.
No sympathy - v poor managing of the business with at best losing out on £400k and at worse...........lets see. Exciting next week either way!!
See below report on linked in by Paul Ensor. Well known natural resources analyst and investor fm the UK. Excellent read. About time someone took this stock seriously.. Even more so than W. H. Ireland, the company's supposed broker. Hahaha!!
https://www.linkedin.com/pulse/contrarian-bet-african-gold-chairman-nealon-who-built-paul-ensor-vnsee
So we now have 1) The start of our SA drilling program in an area with SHALLOW GOLD!! 2) We have Australia's most successful private prospector as major shareholder 3) We have a JV in SA with that country's largest gold miner (Harmony) with potentially 2.9mn oz 4) we have a JORC in the USA of 220K oz and potential for over 30mn oz in SA and the stock price over the last 3 months or so is OFF by 40%?
Well, at least 5) LEX is cashed up and has the resources available to do lots of drilling at its prospects, and 6) as per the last announcement, we can expect drilling results in March next year. Only 3 months forward. 6) one would expect that things are going on in the background re the Jelani JV with Harmony and that negotiation to get that moving will be underway soon. Interestingly, the gold in the WRE JV with Harmony grades at nearly 6.5g/tonne as opposed to what they are mining now at Target Mine which is less than 4g. Its way more profitable.
Anyway, 2023 is almost a dead letter now. Buy a few for 2024!!! Cheers all you LEXERS...
Nice to see an update today.
Lexington Gold, this morning, announces the commencement of its South African Drilling Programme
https://www.londonstockexchange.com/news-article/LEX/commencement-of-south-african-drilling-programme/16243665
https://twitter.com/LexGoldLtd/status/1733047849930182840